Renewable Energy

Renewable energy products and services constitute a rapidly growing segment of the international marketplace

The costs of technologies to capture that energy are rapidly falling and becoming economically competitive with fossil fuels, while reducing the risk of climate change. Investing in renewable energy creates jobs, fosters economic growth, and improves energy security for countries that lack domestic fossil fuel resources.

Increasing the share of energy from renewable sources can reduce greenhouse gas emissions and local pollution; insulate countries from fuel price volatility; and improve those countries' balance of payments.

Achieving the Secretary-General's objective of doubling that percentage by 2030 requires support from all sectors of society, including individuals.

Renewable energy is becoming increasingly cost-competitive.

Investment in electricity from the wind, sun, waves and biomass grew to $187 billion last year, compared with $157 billion for natural gas, oil and coal.

Total new investment in clean energy increased last year to $260 billion in 2011

Some recent scenarios estimate that renewables will contribute more to a low-carbon energy supply by 2050 than nuclear power or fossil fuels using carbon capture and storage.

Hydro, geothermal and bioenergy have long been competitive where resources are available, and wind and solar are also economically attractive in many locations.If supported by strong enabling policies at the public level and robust investment from the private sector, renewable energy could supply a much larger share of the world's energy by 2030.